Other common methods include resin/UV light, and powder/laser.
The smaller the nozzle diameter, the less the material deposited and the higher the printing time. In short, it’s a trade-off between resolution and speed.
Nozzle diameter also determines the layer thickness. Recommended layer thickness: 15-75% of the nozzle diameter.
Examples from our printers:

If an object feature is supposed to be 100 mm, the actual print may be 99.9 mm or 100.1 mm. This is not too important when printing large size objects or features.
But, if a feature I’m printing is supposed to be 0.5mm, then the actual print may be 0.4 mm or 0.6 mm.
Examples from our printers:

Extrusion temperature > melting temperature
PLA: Tmelt = 170-180 Celsius